The Congress on Friday attacked the government over India’s economic growth falling to a two-year low of 5.4 per cent in the July-September quarter of the current financial year, saying it shows that the reality is worse than all the hype created by the Prime Minister. Very different. Narendra Modi and “his cheerleaders”.
Congress general secretary communication in-charge Jairam Ramesh said that Prime Minister Modi’s economic development record is worse than ever. Manmohan SinghPrime Ministership even after a desperate “recalibration” of earlier economic growth.
“GDP growth during July-September 2024 is slowed down to 5.4%This is far less than even the most pessimistic estimates. This just shows that the reality is very different from all the hype generated by the PM and his cheerleaders,” Ramesh said in a post. x,
GDP growth rate has slowed to 5.4% during July-September 2024. This is far less than even the most pessimistic estimates. This directly shows that the reality is very different from all the hype generated by the Prime Minister and his cheerleaders.
GDP growth slowed to 5.4%, and private investment…
-Jairam Ramesh (@jairam_ramesh) 29 November 2024
The Congress leader said GDP growth has slowed to 5.4% and private investment growth is equally weak at 5.4%.
“Despite the much-hyped PLI scheme and Make in India claims, manufacturing growth slowed to a shocking 2.2%. Exports declined by 2.8% and imports actually declined by -2.9%, indicating serious domestic weakness. Mass consumption growth is accelerating,” he said.
“Despite a desperate ‘recalibration’ of earlier economic growth, the economic growth record of a non-organic prime minister remains far worse than that of Dr Manmohan Singh’s prime ministership,” Ramesh said. He said, this is the bitter truth of the so-called “New India”.
India’s economic growth slowed to a near two-year low of 5.4 per cent in the July-September quarter of the current financial year due to poor performance by the manufacturing and mining sectors, but the country remains the fastest growing major economy, as per The figures were revealed on Friday. ,
He said that the gross domestic product (GDP) has increased by 8.1 percent in the July-September quarter of the financial year 2023-24.
The previous low of 4.3 per cent GDP growth was recorded in the third quarter (October-December 2022) of the financial year 2022-23.
However, India remained the fastest growing major economy as China’s GDP growth rate stood at 4.6 per cent in the July-September quarter this year.